The 1.3708 level held the top as per the prior post and this has led to a move through key support at 1.3691. The next target support comes in at 1.3666. This is the 100 hour MA level and should find some additional intraday profit takers. A break targets the 200 hour MA at the 1.3651 and then 1.3617.
Add a comment
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
ADVISORY WARNING: FXDD provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of futures results and FXDD specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FXDD expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.
Loading ...
might shoot all the way down to the 1.300 level or lower. EU is weaker than every one thinks. That’s my 2 cents/pence worth.
Thanks Lee…The commentary from longer term analysts are bearish. From a technical perspective, the price is back below the 100 hour moving average which gives a bearish bias from that perspective. Will continue to watch the steps down along the way.
Kind regards,
Greg
Cheers Greg